The Winklevoss twins spoke to the older generation of the financial community

The Winklevoss twins spoke to the older generation of the financial community

In an interview at the Milken Institute summit in Abu Dhabi, Cameron and Tyler Winklevoss, not holding back emotions, voiced his opinion about the criticism of the older generation financial community that claims to not see the cryptocurrency the future of money.

The twins were asked to respond to criticism of the representatives of wall street, including the legendary investor Warren Buffett, who said that Bitcoin is ” real bubble “, and General Director of JP Morgan and Jamie Daimon, claiming that the flagship cryptocurrency ” fraud “.

Earlier, Cameron and Tyler Winklevoss have already commented on the statements of Jamie Daimon. As reported by the publication CCN, they dared invite him to take a short position if he believes in the fall of the cryptocurrency market. Time passed, and Dimon admitted he had been wrong about Bitcoin, but the topic of crypto-currencies in General, its still not interested.

For the Winklevoss twins all the negativity showcased by the representatives of wall street, is proof of “lack of imagination”. Cameron Winklevoss even added that Millennials prefer in their portfolios software, not hardware, meaning that the Bitcoin software, and gold hardware.

When Tyler asked to clarify whether he thinks that the critics are just “too old” to understand the cryptocurrency, he said that as people get older, their brain loses plasticity. This causes them to stay within what is familiar. Hinting that they suffer from “the effect of familiarization with the object” (psychological phenomenon, the manifestation of which people prefer familiar to the new) he said:

“You come into this world, but you got used to the fact that the money — those green bills or precious metal, and you start to get confused between what is familiar to you and that you each day use, and the way things should be. Concepts are laid in the brain, for example, age 65-70, and in some cases over 80.”

He added that to retrain these people or even just get to think about something new, is almost impossible, because for them “the status quo is really good”. However, the world has enough people who do not have access to the banking system and criticism of bitcoins – a “privileged minority.”

Next, Cameron asked a sarcastic question — is there a branch of JP Morgan in Africa for the provision of banking services to the local population? Cryptocurrency in the understanding of twins is a way to correct errors in the existing financial system, because they allow fast peer-to-peer transaction.

To prove his point,Cameron cited the example of a situation where you need as quickly as possible to transfer money from new York to London:

“The joke is that the fastest way is to jump on a flight from new York to London with a bag of cash. If you use a Bank transfer or initiate a payment on Friday evening, the money will not reach the destination until Tuesday.»

“Imagine that your email only works from 9:00 to 5:00 Monday through Friday. This is just ridiculous! So why money is not working as our e-mail? Bitcoin and other cryptocurrencies 24/7 and it really opens up new possibilities”.

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